The Times Cheers Up Stock Market Investors

Last weekend The New York Times, no doubt in response to criticism that the media reports nothing but grim news about the economy, did its best to cheer us up with an article about how a stock market debacle from 75 years ago wasn’t really all that bad after all.

It started out squarely addressing the problem.

Historical stock charts seem to show that it took more than 25 years for the market to recover from the 1929 crash — a dismal statistic that has been brought to investors’ attention many times in the current downturn.

I’m not that easily cheered up, partly because I understand the nature of the optical illusion that makes those charts “seem to show that it took more than 25 years” to recover from the ‘29 crash. The charts tend to make the uninformed observer think it took 25 years to recover because it’s actually true. It was not until 1954 that the Dow got back to its 1929 high.

And I haven’t noticed this fact being brought to investors’ attention all that much lately, although it certainly comes up more than it did pre-2008, which was approximately never. If I was in charge of the SEC, in order to open a brokerage account all investors would have to sign the following:

I hereby acknowledge that the stock market went sideways for the 25 years from 1929 to 1954 and that despite MSNBC, Blackberries, and Yahoo Finance, everybody involved in the stock market is just as foolish today as back then and just as likely to screw up my plans to retire early.

Of course, the Times article does acknowledge the bare mathematical facts, but argues that there are three ways in which this is misleading. 1) It does not account for the deflation of the early 1930’s. 2) It does not include dividend payments. 3) The Dow Jones Industrials is a stupid index that doesn’t represent the stock market very well.

Those are valid points. According to the Times, if you correct for these things it only took until 1936 for the market to regain its 1929 level. Not that I am untrusting, but I ran the numbers myself, using the ever-useful spreadsheet maintained by ill-paid and anonymous grad students in the employ of Prof. Robert Shiller. And sure enough, based on the S&P 500, corrected for deflation, and including reinvested dividends, the September 1929 peak level was regained in November of 1936.

Funny thing, though. It didn’t last that long. By April of 1937 it was back under the 1929 level. Saying that the recovery only took 4 1/2 years because of this short-lived rally is like saying that the Pacific Ocean is not as far across as it seems because of Hawaii.

After April 1937, the next time it climbed above September 1929 was January 1945. And even that wasn’t permanent. It went back and forth for most of the late 1940’s, crossing above the September 1929 level for the final time in July 1949.

So I guess instead of saying that the market went sideways for 25 years from 1929 to 1954, we should say that it went sideways for 20 years from 1929 to 1949. I’ll be sure and change what I make investors sign.

Investing, Media, Robert Shiller | Frank Curmudgeon | April 29, 2009 9:00 am

97 Comments

By ObliviousInvestor, April 29, 2009 @ 10:22 am

You’re right. It’s very important to know that the stock market can go absolutely nowhere for an extended period.

Also noteworthy: Holding bonds wouldn’t have helped.

According to the data I use (from Aswath Damodaran at NYU), during the 20-year period ending in 1949 the total real return on 10-Year US Treasury Bonds was lower than that of the S&P 500.
By Rick Francis, April 29, 2009 @ 12:00 pm

Frank,

I don’t think that the total recovery time is the most relevant question. After all, how many people invested a large lump sum at the market peak?

A better question:
What kind of an effect does a large market crash have on periodic investing over a long term?
If an investor is investing a constant amount per month for 30 years in a broad market index what effect did the 1929 market crash have?
My guess would be that if the crash happened near the start of their investing period the investor’s compound annual growth rate for the 30 year period would actually be better than the index’s long term average. My reasoning is that they didn’t have a significant investment before the crash and then they bought many more shares at much lower prices. If the crash happened near the end of their investing period their CAGR was below the index’s long term average due to purchasing a lot more shares are larger prices. If the crash happened at the middle of their investment period I suspect they were not far from the index’s long term CAGR.

-Rick Francis
By SJ, April 29, 2009 @ 12:30 pm

“maintained by ill-paid and anonymous grad students in the employ of Prof. Robert Shiller.”

Thanks for the love =)

Good ole grad students…
By Frank Curmudgeon, April 29, 2009 @ 2:27 pm

Rick Francis,

I don’t think the recovery time is particularly important either. It’s important for investors in stocks to understand what the worst case scenario looks like, but beyond a certain point splitting hairs over exactly how bad it was 75 years ago gets very silly. Clearly, any person who had the courage to invest in the stock market throughout the 1930s (and I think it took a lot of courage) was very happy about it in the decades that followed.
By ryan, April 29, 2009 @ 3:08 pm

I love a good analogy and the “Pacific Ocean contains Hawaii” is perfect.

Rick brings up a good point that I’ve thought about occasionally when reading those kinds of articles. They often pick one of two scenarios to illustrate what they think is the “worst that could happen.” One is the lump sum invesment on the eve of the crash (yes, bad) and the other is beginning periodic investments just before the crash (not bad at all, in fact, a great opportunity, since you only “lose” one month’s investment). And then they run some sort of happy analysis about how stocks always reward the patient investor. But I’ve never seen a PF article address the really unlucky schmuck who, say, planned to retire in November of 1929.

So anyway Frank, in one of your earlier posts, you raised the issue with a hypothetical scenario about whether or not stock/bond diversification has any merit. The hypothetical question was that one has a certain amount to invest for a number of years, and once he makes the investment he cannot make any adjustments to the time frame; what mix of stocks and bonds is appropriate; and what difference does it make when he holds what allocation?

So anyway, this question, believe it or not, was in the back of my head for a couple days, and the best I could come up with is that the GRADUAL AND STEADY reallocation to bonds or safer investments is like dollar-cost-averaging OUT of the market, just like we’re all encouraged to not invest lump sums but spread them out. The idea is to smooth out volatility (for better or worse) on both ends, not just the entry. In all the Depression examples, I suppose this would help the hypothetical unlucky investor. Of course I imagine in alot of boom times, it would potentially hurt him.

Anyway, to tie in another post, I (at 29 years old) completely understand that the stock market might give me nothing for the next 25 years; and THAT is why I make double mortgage payments each month. It’s just another form of diversification.
By Rob Bennett, April 29, 2009 @ 3:31 pm

Saying that the recovery only took 4 1/2 years because of this short-lived rally is like saying that the Pacific Ocean is not as far across as it seems because of Hawaii.

Precisely so.

My view is that it is impossible to make sense out of any stock investing question without accepting that valuations affect long-term returns and all the implications that follow from that obvious (to me, anyway) reality. Stocks are always a bad long-term bet starting from prices at which a crash has become inevitable and stocks are always a good long-term bet after the crash has taken place.

Rob
By Ntjhwc, May 12, 2023 @ 10:32 am

buy tadalafil 20mg for sale cialis order buy ed pills cheap
By Doups, May 18, 2023 @ 3:23 am

Thanks bicknica glad this article helped you! The dealer button serves as the starting point for each poker hand. The exact origins of Hold’em remain a bit murky. However, most agree the game was birthed in its namesake state (Texas) in the town of Robstown sometime during the early 1900’s. There, in the great Lone Star state, it remained virtually unnoticed for decades until this poker genre was finally launched in 1967 in Las Vegas. Texas Hold’em is available to play at almost every online poker site. It’s the most popular poker game type and is played by millions of people worldwide. Now that you understand how a poker hand is played, let’s talk about betting. In poker, betting works a bit different depending on whether it’s before the flop or after. Texas Holdem poker is a blind based game. Before any cards are dealt two of the players at the table must put in bets. These are called blind bets or commonly referred to as blinds. Once the blinds are set, two cards are dealt to each player as their personal hand (hole cards), two cards to the dealer and five community cards are dealt face-up in the center of the table. Each player will use his or her two hole cards along with the five community cards to form the best five-card (highest ranked) poker hand.
http://daltonijlv268.raidersfanteamshop.com/paysafecard-deposit-casino-fees
At Slotorama you’ll find a great selection of some of the hottest 5 Reel video slots online. In fact, not only do we offer slots from new developers like Rival Powered, Betsoft, Rabcat, Microgaming, Playtech and NetEnt, but we boast some of old classics from IGT, Bally, Novomatic and Aristocrat too. While with free slot machines you can hone your skills and perfect your strategy, there is one big drawback: you can’t win any money! Real money slot machines can sometimes offer life-changing sums of money to players, and even the smaller winnings can intensify the excitement. If you’re unsure whether you’d like to try real money slot machines or stick with playing free casino slot games, we’ve detailed the benefits of both in the table below: Especially for those who are not yet so well-versed in the areas of slots and gambling, playing free slot games is a great place to start. This will enable you to get to know an online slot machine, inside and out, with no restrictions to the amount of time you can spend.
By Xyykms, May 19, 2023 @ 10:37 pm

accutane 20mg tablet azithromycin ca zithromax pills
By Rnheem, May 21, 2023 @ 12:25 pm

purchase azipro sale purchase azithromycin pill gabapentin 100mg oral
By Udkdtq, May 23, 2023 @ 8:05 am

order furosemide 40mg pills generic albuterol 4mg buy albuterol online cheap
By nug, May 23, 2023 @ 1:43 pm

RuneScape es uno de los juegos de rol más longevos de todos los tiempos, el cual recientemente ha recibido su propia versión para móviles. Old School RuneScape es un título donde no existe una historia lineal, sino que los jugadores son libres de vivir todo tipo de aventuras, como completar misiones, enfrentar criaturas míticas e incluso a otros jugadores. De esta forma, obtienen un material interno, el oro, el cual puede venderse en grandes cantidades por dinero real. Y como dato adicional, este título tiene una economía interna. Se trata de un juego con cuatro fases de Bono. En la fase Mayor Menor tu misión es conseguir la carta del joker; en la fase Bono del Té deberás encontrar el bote progresivo entre las teteras y madalenas; en la fase Bono de las Rosas tu objetivo es pintar las rosas antes de que aparezca la reina; y en la fase Bono de Croquet has de ganar a tu rival, conseguir así una pantalla extra donde… Bueno, mejor no hagamos de spoiler
http://dmonster484.dmonster.kr/bbs/board.php?bo_table=free&wr_id=105054
Después de aprender esta regla fundamental que forma inherentemente la estrategia fundamental de la selección de juegos de ruleta, quién dice que jugar en casa sea solitario. Blackjack online sin depósito sin bono de descarga 2022 se encontrarán con títulos como Classic Blackjack, Aristocrat. Casumo casino canada tiene a Playtech como proveedor de juegos, NetEnt e IGT. Entonces, verifique cuáles son los términos y condiciones. Si desea jugar a las tragamonedas y juegos de casino Reel54 en InstaCasino, luego léalos. Un pago de su bono, comodines y nueve fichas de favor. Es realmente sencillo utilizar este método para realizar depósitos en el casino online de tu agrado. Más adelante te explicaremos el paso a paso y analizaremos la interfaz de dicho sistema. Por ahora te podemos decir que, aunque no son demasiados los casinos que aceptan MercadoPago, ya hay varios operadores de gran importancia que empiezan a sumarse, por lo que se augura que en un futuro cercano este método esté presente en la industria de los casinos móviles del mundo.
By Hydhfk, May 25, 2023 @ 2:21 am

vardenafil where to buy purchase hydroxychloroquine online cheap plaquenil 200mg us
By sterm, May 25, 2023 @ 2:36 pm

Perfeito!!! 100% seguro, confiável, ágil e o atendimento on line é muito bom! Podem comprar sem medo! Recomendo a todos!!! 3.3. Ao CONTRATANTE cabe escolher adequadamente o Login, conforme definido na cláusula 3.1 acima, ciente de que não poderá ser registrado nome que desrespeite a legislação em vigor, que induza terceiros a erro, que viole direitos de terceiros, que represente conceitos predefinidos na rede Mundial de computadores (“Internet”), que se constitua em palavras de baixo calão ou abusivas, que simbolize siglas de Estados, Ministérios, dentre outras vedações, sendo certo que o CONTRATANTE responderá pelo uso indevido, se for o caso, tanto no âmbito civil quanto penal. Receba novidades e ofertas exclusivas Ter um parceiro confiável e um método para transações financeiras é uma relação vital que todo jogador de poker que joga online – profissional ou amador – precisa ter. A Sempre Fichas, com mais de 10 anos de mercado, é essa ponte para centenas de amantes do poker. E uma grande novidade neste mercado irá facilitar e trazer ainda mais agilidade em nesse processo.
https://griffindcax629629.uzblog.net/ganhar-dinheiro-com-bingo-online-33141338
Conhece as regras do Poker Texas Hold’em? Prepare-se para jogar essa variante do poker em cassinos online. Se você já joga o poker tradicional, é hora de aprender como jogar poker Texas Hold’em para testar suas habilidades e explorar novas vertentes deste jogo. As regras básicas de posições, dinâmica de apostas e ranking de mãos são as mesmas. No Omaha 5 cartas você também é obrigado a utilizar duas cartas, das cinco que recebe. Você também encontrará um símbolo de dispersão de bônus no jogo, Mamma Mia parece ser semelhante à maioria das novas máquinas caça-níqueis 3D da Betsoft Gaming. Quando fazemos apostas em qualquer um dos principais sites de cassino online da Hungria, isso não deve tirar o fato de que o Slots Heaven ainda tem alguns jogos de cassino ao vivo eminentemente jogáveis em seus livros. Kita Hinggal aceitar recibo masa Yang Tarikh banco Tu 24jam Sahaja, enquanto os símbolos são excelentemente detalhados.
By Jwaefn, May 25, 2023 @ 7:02 pm

buy generic altace amaryl 4mg uk arcoxia where to buy
By Cib, May 25, 2023 @ 8:35 pm

Was oft das Besondere eines Automatenspiels ausmacht, sind die Extras, die das Spielgeschehen beleben, der Handlung die Würze geben und auch neue Spieler anlocken. Selbst wenn man Space Invaders kostenlos spielen möchte, sind diese Merkmale interessant und wichtig: Bitte deaktivieren Sie sämtliche Hard- und Software-Komponenten, die in der Lage sind Teile unserer Website zu blockieren. Z.B. Browser-AddOns wie Adblocker oder auch netzwerktechnische Filter. Gerät ist absolut wartungsfrei. Startseite » Space Invaders Click here to play Erlaubte Spiele In Zeiten von graphisch sehr anspruchsvollen Videospielen bieten alte Arcade-Automaten vielleicht nicht die gleiche Realistik, aber der Spielspaß, den man damals in den Spielhallen hatte, der ist immer noch der gleiche. Ein Star dieser Ära war z. B. Pac Man. Menschen eines gewissen Alters verbrachten Stunden beim „daddeln“ an den alten Geräten – und keine Sekunde war verschwendet.
http://www.xn--989a61jhrk3se9pd9tf.kr/gwbbs/board.php?bo_table=free&wr_id=794276
Top-Charts „Ein Erfolg“, so Bernhard Eber von BALLY WULFF, „der unser Unterneh- men darin bestärkt, auch weiterhin punktuell Künstler zu unterstützen.“ Ein gewisser Zusammenhang zwi- schen dem Projekt und den Fir- menprodukten müsse jedoch gege- ben sein. Die Neuinterpretation des Königs, der SELECT MONARCH, bietet im neuen 75-er Spielepaket einen kassenstarken Spielemix. Zehn Spieleneuheiten und sieben Spiele mit Respin-Feature setzen dem Vergnügen die Krone auf. Insbesondere die Highlightspiele Viking Conquest und Colosseum bescheren königliche Momente der Unterhaltung. Die Neuinterpretation des Königs, der SELECT MONARCH, bietet im neuen 75-er Spielepaket einen kassenstarken Spielemix. Zehn Spieleneuheiten und sieben Spiele mit Respin-Feature setzen dem Vergnügen die Krone auf. Insbesondere die Highlightspiele Viking Conquest und Colosseum bescheren königliche Momente der Unterhaltung.
By ingem, May 26, 2023 @ 3:11 am

Directions For Use: Apply blinc eyebrow mousse on clean and dry eyebrows. Using the precise applicator, gently sweep across the brow in short strokes, focusing on adding color to existing brow hair. Once your natural brow has been colored, begin filling in sparse areas by sweeping the wand in short strokes upwards to mimic the appearance of natural hairs. This will allow the model to determine the desired thickness or thinness of the brow. Your cart is empty Blinc’s Eyebrow Mousse is a VEGAN, ultra-longwearing and waterproof formula that delivers 6 amazing benefits in just one stroke: Fills sparse areas, volumizes your brows, tints your hair with 6 color options, tames & holds hair in place like a gel and protects against free radicals while strengthening damaged hair and fighting against breakage and thinning.
http://suiwifi.vouvstudio.com/bbs/board.php?bo_table=free&wr_id=161620
The analysis indicates that around 100% reviews were positive while around 0% of reviews had negative sentiment. Shades 4.5, 5: STEARIC ACID, RHUS SUCCEDANEA FRUIT WAX, HYDROGENATED CASTOR OIL, PARAFFINUM LIQUIDUM (MINERAL OIL), CERA MICROCRISTALLINA (MICROCRYSTALLINE WAX), CERA ALBA (BEESWAX), HYDROGENATED COCONUT OIL, HYDROGENATED PALM KERNEL OIL, HYDROGENATED PALM OIL, TALC, TOCOPHEROL, ALUMINUM HYDROXIDE, LECITHIN, BHT. . N 09840 A Micro Brow Pencil Roll over image to zoom in This product received a total score of 9.33 out of 10, based on review sentiments and user opinions related to 5 features: Keep in mind that the best eyebrow pencil doesn’t have to be expensive. We hope this comprehensive eyebrow pencil review and buyer’s guide helps you find the best brow pencil for your needs.
By Huzktg, June 15, 2023 @ 12:53 am

buy ampicillin generic cipro canada buy flagyl 400mg pill
By Iohsyr, June 15, 2023 @ 2:50 am

buy crestor 10mg generic order crestor 10mg for sale order motilium 10mg online
By Mbmmep, June 16, 2023 @ 4:16 pm

buy sumycin paypal order generic baclofen 10mg purchase ozobax without prescription
By Porxsk, June 16, 2023 @ 8:35 pm

buy bactrim 480mg online bactrim 480mg oral buy cleocin generic
By Bzofgs, June 18, 2023 @ 6:28 am

toradol 10mg us order toradol without prescription order inderal online cheap
By Pfpyiw, June 18, 2023 @ 4:42 pm

order erythromycin without prescription nolvadex 10mg tablet nolvadex 20mg us
By Tzhbwj, June 19, 2023 @ 8:59 pm

buy plavix 150mg for sale buy warfarin 2mg pill warfarin price
By Emxbqk, June 20, 2023 @ 2:06 pm

buy budesonide online cheap order ceftin 250mg pills purchase bimatoprost online
By Hxaegc, June 21, 2023 @ 1:21 pm

order reglan 20mg generic reglan 20mg tablet purchase esomeprazole generic
By Hvtdcw, June 22, 2023 @ 10:52 am

buy robaxin 500mg pill buy desyrel generic order sildenafil 50mg online cheap
By Vpjodt, June 24, 2023 @ 7:21 am

sildenafil 50mg cheap order estrace 1mg order estradiol sale
By Irgihg, June 24, 2023 @ 6:45 pm

buy avodart pills order zantac 300mg pill buy mobic 7.5mg generic
By Ynpjck, June 26, 2023 @ 6:03 am

lamotrigine 50mg for sale buy minipress 1mg online cheap buy prazosin 1mg without prescription
By Wvshbe, June 26, 2023 @ 10:04 am

buy cheap generic celecoxib buy celecoxib online cheap order ondansetron without prescription
By spravki-kupit.ru, June 26, 2023 @ 7:34 pm
By bub, June 26, 2023 @ 10:13 pm

Dalam taruhan slot online winstar88, pemain di sarankan untuk memilih slot dengan RTP (Return to Player) tinggi atau di atas 94%. Pasalnya, permainan slot gacor dengan RTP tinggi akan memberikan pengembalian keuntungan yang tinggi pula. Sedangkan level volatilitas slot justru kebalikannya. Volatilitas merupakan risiko permainan slot. Ketika level volatilitas suatu game slot tinggi, maka game slot tersebut sulit di menangkan. Banyaknya pemain telah menjadi jutawaan dengan cara bergabung bersama kami disini. Jadi, tunggu apa lagi gaes? Raih kesempatan emas anda sekarang juga. Tapi, kalau game slot dengan volatilitas tinggi berhasil Anda menangkan, hadiahnya cukup besar dan di jamin memuaskan. Sedangkan game slot volatilitas rendah lebih mudah di menangkan, namun nilai kemenangannya kecil. Mana yang terbaik? Jika Anda mengincar keuntungan tertinggi dari slot hoki, pilih winstar88 slot online gacor dengan kombinasi RTP tinggi dan level volatilitas tinggi. Jika Anda ingin lebih sering menang, pilih slot dengan RTP tinggi dan level volatilitas rendah.
http://www.petsbay.co.kr/bbs/board.php?bo_table=free&wr_id=7389
Playing Caesars Casino free Slots on Facebook is only complete when you spin the reels in a traditional Shamrock Slot. You acquire these by playing different slot games, or buying them from the shop. The platform doesn’t use real-money. It relies on credit coins, a fake currency. However, you can pile it up to earn more. The third section features 40 classic-style slots. Overall, there are over 40 million players that love it, making it one of the most popular Facebook games. Jackpot Party Casino Slots is a fun slot game for Facebook. The game definitely has lovely graphics and background sound. Start the game and you will be shown a few games out of which only the first one is unlocked. Start with the first game and you will be taken to your slot machine as shown in the screenshot above. Here you have to spin the slots and get winning combinations to make money.
By купить диплом автомеханика, June 27, 2023 @ 9:52 am

Hey there, You have done a fantastic job. I will definitely digg it and personally recommend to my friends. I am sure they will be benefited from this web site.
By Professor Smith, June 27, 2023 @ 10:10 am

Appreciation to my father who informed me concerning this blog, this website is truly awesome.
By Kbxzff, June 28, 2023 @ 12:48 am

buy spironolactone 100mg online cheap spironolactone 100mg uk valtrex uk
By Kilcdt, June 28, 2023 @ 7:02 am

buy tretinoin gel online cheap avana buy online avanafil us
By Tfsynv, June 29, 2023 @ 2:39 pm

buy proscar pills finasteride online buy cheap sildenafil tablets
By накрутка просмотров яппи, July 30, 2023 @ 7:57 am

Hey there this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding knowledge so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
By Uozudj, July 31, 2023 @ 1:57 am

order diovan 80mg pill combivent 100 mcg sale combivent 100mcg generic
By Gvtwxb, July 31, 2023 @ 10:05 pm

cost trileptal trileptal 300mg brand order generic urso 150mg
By smartremstroy.ru, August 1, 2023 @ 1:41 am

What i do not realize is actually how you’re now not really a lot more smartly-appreciated than you may be right now. You are so intelligent. You understand therefore significantly with regards to this topic, produced me personally consider it from so many numerous angles. Its like men and women don’t seem to be fascinated until it’s something to accomplish with Lady gaga! Your own stuffs excellent. All the time take care of it up!
By daachnik.ru, August 1, 2023 @ 6:06 pm

Hi there, I enjoy reading all of your post. I like to write a little comment to support you.
By daachnik.ru, August 2, 2023 @ 5:56 am

An impressive share! I have just forwarded this onto a friend who was doing a little research on this. And he in fact bought me lunch simply because I found it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending the time to discuss this issue here on your web site.
By delaremontnika.ru, August 2, 2023 @ 10:34 am

Very rapidly this web site will be famous among all blogging and site-building viewers, due to it’s good articles or reviews
By Ecxcth, August 2, 2023 @ 3:16 pm

order generic dexamethasone order zyvox 600mg sale buy starlix pill
By химчистка мягкой мебели борисов, September 2, 2023 @ 8:15 am

What’s up, after reading this awesome article i am also glad to share my experience here with mates.
By химчистка мягкой мебели смолевичи, September 2, 2023 @ 8:16 am

I was able to find good information from your blog articles.
By Pgjpsn, September 2, 2023 @ 9:15 am

prasugrel 10 mg pill buy prasugrel generic tolterodine 1mg tablet
By химчистка диана цены на услуги смолевичи, September 2, 2023 @ 9:54 am

Aw, this was a very nice post. Spending some time and actual effort to create a top notch article
By Cvgoxv, September 4, 2023 @ 2:08 pm

monograph 600 mg drug buy mebeverine no prescription buy pletal online
By Ayvqkq, September 5, 2023 @ 10:01 am

ferrous sulfate 100 mg pills ascorbic acid 500mg ca buy betapace 40mg without prescription
By Bob, September 6, 2023 @ 12:34 am

The online roulette market offers incredible mobile gaming alternatives for players in Canada. However, not all apps offer great experiences. Some platforms are too slow while others are not secure enough for particular transactions. Take precautions when playing roulette on mobile. We always recommend trying out free games first before going all in. Avoid the mistake of downloading a roulette app then after depositing money finding out that the graphics are poor and the loading speeds dismal. Don’t let yourself get lured in by marketing jargon. Spend time on an app so you can gauge its performance on a real game. Let’s have a look at the most popular free Roulette variants available online: One of the great things about playing free online roulette is the variety of different games on offer. Unlike the classic version you’ll find at land casinos in 2023, playing at an online roulette casino opens a world of exclusive roulette variations unavailable elsewhere.
http://evergreenstory.co.kr/bbs/board.php?bo_table=free&wr_id=48679
İletişim Başkanlığı Konferans Salonu’nda düzenlenen ‘Türk Basın Tarihini Yeniden Düşünmek Sempozyumu’ İletişim Başkanı Fahrettin Altun’un konuşması ANKARA – Cumhurbaşkanlığı İletişim Başkanı Fahrettin… It’s difficult to practice card counting in free online blackjack games. This is due to the use of random number generators (RNGs) that constantly shuffle the deck. One opportunity you do have to count cards online is with live dealer blackjack games, where are real dealer is using a real deck of 52 cards via a video stream. However, this variant of the game is rarely available for free play. This is a no-brainer, or at least it should be! A pair of 8s gives you the dreaded 16, and by splitting these you are banking on at least one face card showing up to give you a good hand. Even a 1, 2 or a 3 are all good cards to draw to an 8, meaning that you have plenty of chances to make a winning hand. Likewise, a pair of Aces gives you an unfriendly hand value of either 2 or 12, so it’s a much better idea to split them and hope that 7s, 8s, 9s, and 10s show up.
By agrosadovnik.ru, September 6, 2023 @ 11:43 am

all the time i used to read smaller articles which also clear their motive, and that is also happening with this piece of writing which I am reading at this place.
By sadovoe-tut.ru, September 6, 2023 @ 11:58 am

I am extremely inspired together with your writing talents and alsosmartly as with the format in your blog. Is this a paid subject or did you customize it yourself? Either way stay up the nice quality writing, it’s rare to peer a nice blog like this one nowadays..
By sadovoe-tut.ru, September 6, 2023 @ 7:55 pm

I am curious to find out what blog system you happen to be utilizing? I’m experiencing some minor security problems with my latest website and I would like to find something more risk-free. Do you have any suggestions?
By payday loans near me, October 7, 2023 @ 6:46 am

I am sure this piece of writing has touched all the internet viewers, its really really pleasant article on building up new webpage.
By loan places near me, October 7, 2023 @ 2:15 pm

It is not my first time to pay a visit this site, i am visiting this website dailly and get pleasant data from here every day.
By Ylowph, October 8, 2023 @ 9:29 am

order phenytoin online cheap dilantin drug where can i buy ditropan
By online television, October 8, 2023 @ 6:22 pm

This is my first time visit at here and i am in fact impressed to read all at alone place.
By online television, October 9, 2023 @ 3:30 am

Sweet blog! I found it while surfing around on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it
By Yjyjml, October 9, 2023 @ 7:59 am

order loratadine pill order loratadine 10mg sale order priligy online cheap
By Bxgoty, October 10, 2023 @ 11:28 am

where can i buy ozobax ozobax over the counter ketorolac tablet
By online television, October 10, 2023 @ 11:53 am

When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Appreciate it!
By online television, October 10, 2023 @ 9:09 pm

If you want to improve your knowledge simply keep visiting this site and be updated with the most recent information posted here.
By Djjilw, October 12, 2023 @ 3:58 am

ozobax canada buy baclofen without a prescription order toradol pills
By Ybjees, October 12, 2023 @ 5:22 am

cost amaryl 4mg etoricoxib online buy arcoxia 60mg pills
By документы на гостиницу в москве, October 12, 2023 @ 10:36 pm

I relish, cause I found exactly what I used to be looking for. You have ended my 4 day long hunt! God Bless you man. Have a nice day. Bye
By Ktsjzc, October 14, 2023 @ 3:30 pm

alendronate 35mg drug nitrofurantoin buy online macrodantin 100 mg over the counter
By гостиничные чеки с подтверждением москва, October 15, 2023 @ 7:55 pm

Good day! Would you mind if I share your blog with my zynga group? There’s a lot of people that I think would really enjoy your content. Please let me know. Cheers
By гостиничные чеки с подтверждением москва, October 16, 2023 @ 5:31 pm

I’m not sure where you are getting your info, but good topic. I needs to spend some time learning more or understanding more. Thanks for great information I was looking for this information for my mission.
By Jbsbbv, October 16, 2023 @ 8:37 pm

buy inderal tablets order inderal 20mg for sale buy clopidogrel online cheap
By чеки на гостиницу в москве с подтверждением, October 17, 2023 @ 3:57 am

I enjoy reading through a post that will make people think. Also, thank you for allowing for me to comment!
By online television, October 17, 2023 @ 12:45 pm

Hey there would you mind letting me know which hosting company you’re working with? I’ve loaded your blog in 3 completely different web browsers and I must say this blog loads a lot quicker then most. Can you suggest a good internet hosting provider at a honest price? Cheers, I appreciate it!
By online television, October 18, 2023 @ 12:46 pm

Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your weblog? My website is in the very same area of interest as yours and my visitors would certainly benefit from a lot of the information you present here. Please let me know if this okay with you. Thank you!
By Mxejfj, October 19, 2023 @ 12:44 am

purchase pamelor generic anacin 500 mg cost order anacin 500mg without prescription
By online television, October 19, 2023 @ 11:29 am

This is the right website for anybody who wishes to find out about this topic. You realize so much its almost hard to argue with you (not that I personally would want to
By Bvasrk, October 19, 2023 @ 8:18 pm

xenical buy online orlistat cheap purchase diltiazem online cheap
By Gzezsq, October 22, 2023 @ 1:49 am

coumadin 2mg us medex without prescription metoclopramide 20mg ca
By Онлайн казино, October 22, 2023 @ 2:40 am

Hello there! This post couldn’t be written any better! Reading through this post reminds me of my previous roommate! He always kept talking about this. I am going to forward this information to him. Pretty sure he’ll have a good read. Many thanks for sharing!
By залить стяжку пола, October 22, 2023 @ 4:53 pm

Хотите получить идеально ровный пол в своей квартире или офисе? Обратитесь к профессионалам на сайте styazhka-pola24.ru! Мы предоставляем услуги по устройству стяжки пола в Москве и области, а также гарантируем доступные цены и высокое качество работ.
By стяжка пола москва, October 23, 2023 @ 4:49 pm

Нужна стяжка пола в Москве, но вы не знаете, как выбрать подрядчика? Обратитесь к нам на сайт styazhka-pola24.ru! Мы предлагаем услуги по устройству стяжки пола любой площади и сложности, а также гарантируем быстрое и качественное выполнение работ.
By Bnlsuf, October 23, 2023 @ 6:04 pm

purchase astelin online cheap acyclovir without prescription buy avalide generic
By snabzhenie-obektov.ru, October 24, 2023 @ 4:06 am

поставка строительных материалов ооо
By snabzhenie-obektov.ru, October 24, 2023 @ 12:35 pm

снабжение строительными материалами
By Clxawz, October 25, 2023 @ 11:31 am

pepcid 20mg sale oral famotidine purchase tacrolimus sale
By чек на проживание в гостинице купить, October 25, 2023 @ 11:43 pm

Thanks for finally writing about > %blog_title% < Liked it!
By glavdachnik.ru, October 26, 2023 @ 2:11 am

Pretty nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!
By механизированная штукатурка, October 26, 2023 @ 4:27 am

Хотите получить идеально ровные стены в своей квартире или офисе? Обратитесь к профессионалам на сайте mehanizirovannaya-shtukaturka-moscow.ru! Мы предоставляем услуги по механизированной штукатурке стен в Москве и области, а также гарантируем качество работ и доступные цены.
By штукатурка стен, October 26, 2023 @ 3:30 pm

Нужная услуга для идеальной отделки интерьера- это механизированная штукатурка стен. На mehanizirovannaya-shtukaturka-moscow.ru предлагаются только самые качественные услуги.
By Ogulaa, October 28, 2023 @ 3:30 am

buy nexium buy remeron paypal purchase topiramate online
By Seycqy, October 28, 2023 @ 1:05 pm

zyloprim oral zyloprim 100mg ca buy crestor 20mg pills
By сделать гостиничный чек, October 29, 2023 @ 12:20 pm

Hi there friends, how is all, and what you want to say about this article, in my view its really remarkable for me.
By Rgivbw, October 29, 2023 @ 2:49 pm

imitrex 50mg pill levofloxacin 250mg pill purchase avodart pills
By отчетные документы за проживание, October 29, 2023 @ 10:37 pm

Hello would you mind stating which blog platform you’re working with? I’m looking to start my own blog in the near future but I’m having a difficult time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design seems different then most blogs and I’m looking for something completely unique. P.S Apologies for getting off-topic but I had to ask!
By Jwjsqx, October 30, 2023 @ 2:30 am

buy buspar 10mg generic cordarone buy online order amiodarone 100mg
By ремонт бытовой техники в москве, September 9, 2024 @ 12:05 pm

Профессиональный сервисный центр по ремонту бытовой техники с выездом на дом.
Мы предлагаем: сервисные центры в москве
Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!